Energy Market Update – Week 15

Quite a lot happened during this week. Social medias are flourishing with people and bots shilling their favorite tokens and projects. It’s pretty common during the healthy parts of the crypto seasons. Just beware who’s “advice” you are following and for God’s sake don’t go to Reddit, specifically if you’re in doubt. It is very hard to filter out the noise from the actual content these days. When two sides are represented, you will eventually choose the one that fits your agenda, no matter how much compelling evidence is put forth to persuade you otherwise. The human mind is a wonderful thing!

Guess Who’s Back

ICO is back… Back again… Tell a friend… All kidding aside, it surely looks like the bulls might be back too. Even though Q1 2019 raised a whole mountain less in capital than Q1 2018, the market is starting to look good once again.

There it is. Trading platform, P2P, blockchain, AI, green energy, sharing, smart home, climate change… All in one package and the timing couldn’t be better. With that said, they’ve been on the market since 2015 and have raised over £10 million to date with investment from the likes of Innogy International Middle East, Scytale Ventures and equity crowdfunding. Verv’s customers include British Gas, PTT, and Dubai Electricity & Water Authority. Verv was one of a handful of UK startups selected to take part in Launchpad, Google’s global startup program in 2017. Read the article above for more information about Verv.

Sun Tax? No Thanks

The Spanish government is working on regulations regarding the upcoming electricity market conditions. Also putting to rest the so called “sun tax” which was introduced in 2015. The focus is now on encouraging collective self-consumption and establishing a simplified mechanism for compensation of self-produced and unconsumed energy. This move by the Spanish government is quite important since the EU as a whole is very focused on the fight against climate change. Encouraging consumers, households and small businesses should be a top priority regardless of the country or the government in question.

While talking about governments, it’s worth a mention that blockchain technology is expected to have something significant to offer in the near future. As the USD deflates due to increased printing, thus increasing the circulation, Bitcoin is most likely doing the complete opposite. Increasing demand and a fixed supply (no bank or government can alter this) might have a lot to offer in the end. Read more about the speculation below but keep an open mind. There are a lot of issues to be fixed both today and tomorrow, but technology will most likely play an important part once applied and embraced.

Bits and Pieces

Visa, Mastercard, PayPal and co rule the instant value settlements globally without a doubt. It’s fast and secure. We use them everyday without blinking an eye. One of the big questions about the emerging tech is the amount of transactions a network can handle. To compete with Visa you need to clear at least 150 million transactions per day. We are far from that today, but there are a lot of projects trying to accomplish just that and beyond. Two links below for more reading about the subject “Blockchain vs Visa and co.”

China has banned Bitcoin and mining countless times over the years. Now, it’s time to go at it again, but first there’s a couple of things to mention. The largest mining farms reside in China. Chinese mining pools have more hashing power than the rest of the world combined. They also lead the hardware production. How is this going to play out and what are the effects? A couple of links below for further investigation if you find the topic interesting.

Outro

Yes. That’s all for this time. In the next article I’ll focus a bit more on the blockchain companies in the energy sector and some other goodies. Don’t forget to check out the latest interviews we’ve done with the likes of Streamr, WePower, The Sun Exchange and Digital Renaissance. Have a nice day!

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